The decision has been finalized, and the Minister of Economy and Trade in the caretaker government, Amin Salam, announced today, "The decision to price food items in dollars has been made and will come into effect at the beginning of next week." Regarding the mechanisms that will be followed, the head of the Importers of Foodstuffs Syndicate, Hani Al-Bahslai, indicated that Minister Salam will announce them. However, citizens should be aware of the following:
- Supermarkets will determine the exchange rate of the dollar they adopt through screens.
- Food items will be priced in dollars on the shelves, but the invoice will be issued in Lebanese pounds.
- The exchange rate for dollars will be specified on the invoice mandatorily.
- Citizens have the right to choose between paying in dollars or, as is currently the case, in Lebanese pounds, with part of the invoice charged to the bank card.
Al-Bahslai believes that the advantages of this transition are significant, primarily protecting the citizen and small businesses, as they will be able to choose the supermarket that sets the best dollar price for them. Additionally, prices will become relatively stable, similar to the situation before the crisis.
He emphasizes that the goal of adopting this mechanism is to put an end to the saying, "When the dollar rises, prices rise; when the dollar falls, prices do not decrease." Al-Bahslai dismisses the idea that importers are the biggest beneficiaries of this process, indicating that importers essentially already rely on dollars legally, meaning nothing will change for them.
Regarding monitoring mechanisms and whether pricing in dollars will become permanent, Al-Bahslai pointed out that "the pricing stage in Lebanese pounds had its pros and cons, and the same applies to pricing in dollars, which we believe has more positives than negatives. Nevertheless, we will monitor the market's reaction to the new pricing to address any issues that may arise." He concluded, "Pricing in dollars does not mean we have resolved the crisis, but this mechanism will put an end to the abuses faced by citizens."
